Montoro Arranges Shares for Debt for $49,000

Posted: October 21, 2016

Vancouver, B.C. October 21, 2016 – International Montoro Resources Inc. (TSX.V: IMT), (the “Company”)  has agreed to issue an aggregate of 980,000 units at a deemed price of $0.05 per share to one creditor.  Each unit is comprised of one common share and one two year warrant entitling the holder thereof to acquire a further share at an exercise price of $0.07 per share during the first year and $0.10 per share during the second year.

The Shares for Debt is subject to regulatory approval, and once issued, a statutory hold period of four months + one day.  The Debt is for $49,000 ($48,398.45 in services rendered and $601.55 in interest accrued).  The Company is not indebted to any other creditors who wish to settle shares for debt at this time.

About International Montoro Resources Inc.

Montoro is focused on advancing its 100%-owned Serpent River - Elliot Lake, Northern Ontario, Pecors magnetic anomaly - a potential Ni-Cu-PGE discovery.  The southwestern portion of the property has also located Uranium/REE mineralization from drilling in the general area where Rio Algom previously discovered uranium.   The property comprises 10 mineral claims (115 units), approx. 1,840 ha.

Montoro holds a 100% interest in 2,268 ha (5 claims, 5,604 acres, the Chuchinka property) contiguous to and adjoining the Wicheeda, a previously reported Rare Earth discovery, northeast of Prince George, B.C.    Montoro also holds a 100% interest in 4 mineral claims (187.27 ha) in the Tacheeda Lake camp.  This property was previously a producing site of limestone ballast used during the construction of the B.C. Northern railway.

In addition the Company owns with Belmont Resources Inc. (50/50) its Crackingstone (982 ha, 2,427 acres) and Orbit (11,109 ha, 27,450 acres) Uranium properties in the Uranium City District, Northern Saskatchewan, and is seeking a joint venture partner to continue development of this advanced property.

 

ON BEHALF OF THE BOARD OF DIRECTORS

Gary Musil

Gary Musil, President

CEO/Director

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The statements used in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties.  Actual events or results could differ materially from the Companies forward-looking statements and expectations.

Subscribe to our mailing list
* indicates required
() -
(###) ###-####
Recent News
Oct 17, 2018
Montoro Updates Duhamel - Adds Vanadium, Titanium & Chromium Claims Contiguous to Nickel, Copper, Cobalt Project - Quebec, Canada

Oct 04, 2018
Montoro Reprices Warrants

Sep 19, 2018
Montoro Receives Encouraging Final Results from Completed ZTEM Helicopter Survey Over Serpent River- Pecors (Ni-Cu-PGE), Elliot Lake-Ontario Property
Stock Quotes